ÖZGÜR, Onur; BISIN, Alberto - Département de Sciences Économiques, Université de … - 2011
economies, we provide existence (Markov Perfect Equilibrium in pure strategies), ergodicity, and welfare results. Also, we … characterize equilibria in terms of agents' policy function, spatial equilibrium correlations and social multiplier effects … interactions, with special emphasis on the restrictions imposed by dynamic equilibrium conditions. …